LOS ANGELES, CA--(Marketwire - August 3, 2007) - Gas prices have been dropping over the past week at a pace of nearly a penny a day -- similar to the price drops experienced in Southern California at the beginning of summer, according to the Automobile Club of Southern California's Weekend Gas Watch.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.015, which is 5.6 cents cheaper than last week, 11 cents below last month, and 23 cents under last year. In San Diego, the price is $3.038, which is 4.9 cents below last week's price, nine cents under last month, and 25 cents cheaper than last year. On the Central Coast, the average price is $3.247, down 5.5 cents from last week, 12 cents under last month, and 14 cents below last year. In the Inland Empire, the average price is $2.986, 6.2 cents below last week, 12 cents under last month, and 29 cents cheaper than last year.
"Many Southern California regions have gas price averages under $3 and the statewide average is now just a nickel above $3," said Auto Club spokesperson Carol Thorp. "Crude oil prices are now at record highs, but actually throughout California and the rest of the country, pump prices are rapidly dropping for the moment."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Aug. 3:
Area Regular One-weekchange Record Price
---- ------- -------------- ------------
Los Angeles - Long Beach $3.015 - 5.6 cents $3.487
(5/9/2007)
Orange County $2.957 - 6.3 cents $3.479
(5/8/2007)
San Diego $3.038 - 4.9 cents $3.503
(5/8/2007)
Santa Barbara - Santa Maria $3.247 - 5.5 cents $3.614
- Lompoc (5/15/2007)
Riverside - San Bernardino $2.986 - 6.2 cents $3.486
(5/8/2007)
Bakersfield $3.060 - 5.2 cents $3.489
(5/7/2007)
Las Vegas, NV $2.890 - 5.4 cents $3.209
(5/29/2007)
Contact Information: Contact: Marie Montgomery/Carol Thorp (714) 885-2333